Fillable 2020/2021 Special Circumstance Income Reduction/Unusual Situation (Peace College)

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2020/2021 Special Circumstance Income Reduction/Unusual Situation (Peace College)

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2020/2021 Special Circumstance
Income Reduction/Unusual Situation
Approved Special Circumstances do not guarantee any additional aid will be awarded.
Excluding peak periods, the estimated timeframe for a review is 6 to 8 weeks.
William Peace University Tel: 919.508.2349
Office of Financial Aid Fax: 919.508.2325
15 E. Peace St. Raleigh, NC 27604 Email: FinAid@peace.edu
Students Name: _____________________________________ ID: ___________________
Address: ____________________________________________________________________________
City:_____________________State:_______________Zipcode:__________Phone:_________________
A professional judgement allows a school’s financial aid administrator to re-evaluate and to possibly
adjust or make changes to the data elements on the Free Application for Federal Student Aid (FAFSA)
as it relates to the family’s income and assets generating a new estimated family contribution (EFC)
figure.
This form should only be used AFTER the current FAFSA has been submitted. You are completing this
form because you or your parent indicated a recent unusual or extenuating circumstance.
Each request for review is evaluated on an individual basis. In order to have your award re-evaluated
your initial award must be processed first, especially if selected for verification. Circumstances which
might be considered unusual or extenuating may include but not limited to areas listed below. Please
check the situation that applies:
Income Reduction (Income will be less in 2019 or 2020 than in 2018):
Loss of Employment
Decrease in salary/wages
Unusual Situations:
Exceptions to normal income (inheritance, IRA withdrawal, etc.)
Loss of business/farm due to bankruptcy, foreclosure, etc.
Other situation not listed above (Please explain in detail)
The below documentation is REQUIRED for the review of your application
• A detailed statement explaining your circumstance, signed and dated.
o Copy of 2019 Federal Tax Return or last pay stub for 2020
o Income Reductions:
▪ 2019 W2’s
▪ Last pay stub
2020/2021 Special Circumstance
Income Reduction/Unusual Situation
Approved Special Circumstances do not guarantee any additional aid will be awarded.
Excluding peak periods, the estimated timeframe for a review is 6 to 8 weeks.
William Peace University Tel: 919.508.2349
Office of Financial Aid Fax: 919.508.2325
15 E. Peace St. Raleigh, NC 27604 Email: FinAid@peace.edu
▪ 2019 W2’s
▪ Supporting documentation i.e. unemployment benefits letter, end of
employment letter from employer
o Exceptions to normal income:
▪ Letter from an attorney, accountant or the income source to verify status
o Loss of business/farm:
▪ Letter from an attorney or accountant to verify status of the property/asset lost
o Other situation:
▪ If Retirement:
• Type of retirement and monthly pension(s) amount(s)
▪ If Disability:
• Personal statement
• Proof of disability and monthly benefits received
▪ If other situation:
• Documentation to support claim
Additional documentation may be required before a professional judgement can be made.
Certification of Statement
I/We certify that the information provided on the form is complete and accurate to the best of my/our
knowledge. If additional changes occur during the academic year that would alter the information
provided on this Professional Judgement form, I/We will immediately contact the Office of Financial Aid.
*Application must be signed by student and will not be accepted without all signatures of parties
involved.*
Student Signature: _______________________________________________ Date: ________________
Spouse Signature: _______________________________________________ Date: ________________
(if independent and married)
Parent 1 Signature: _______________________________________________ Date: _______________
(if dependent student)
OR
Parent 2 Signature: _______________________________________________ Date: _______________
(if dependent student)
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20202021 Special Circumstance Income ReductionUnusual Situation (Peace College)

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Completed 23 July 2020

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